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Consolidated Statements of Operations (USD $)
12 Months Ended
Jan. 31, 2012
Jan. 31, 2011
REVENUE    
Room $ 13,523,680 $ 12,043,627
Food and Beverage 836,984 765,851
Telecommunications 1,882 14,314
Other 242,322 208,266
Management and Trademark Fees, including $216,963 and $275,306 from related parties for 2012 and 2011, respectively 231,456 281,096
Payroll Reimbursements from Related Parties 2,231,712 2,427,273
TOTAL REVENUE 17,068,036 15,740,427
OPERATING EXPENSES    
Room 3,546,069 3,448,986
Food and Beverage 869,574 818,657
Telecommunications 45,720 62,171
General and Administrative 3,102,388 2,937,016
Sales and Marketing 1,110,495 1,148,629
Repairs and Maintenance 1,430,645 1,291,422
Hospitality 790,634 730,961
Utilities 1,200,192 1,158,771
Hotel Property Depreciation 1,734,734 1,853,164
Real Estate and Personal Property Taxes, Insurance and Ground Rent 917,878 929,923
Other 12,553 15,747
Payroll Costs Related to Management Contracts 2,231,712 2,427,273
TOTAL OPERATING EXPENSES 16,992,594 16,822,720
OPERATING INCOME (LOSS) 75,442 (1,082,293)
Interest Income 3,721 1,297
TOTAL OTHER INCOME 3,721 1,297
Interest on Mortgage Notes Payable 1,490,995 1,548,724
Interest on Notes Payable to Banks 1,048 76
Interest on Other Notes Payable 35,464 39,960
TOTAL INTEREST EXPENSE 1,527,507 1,588,760
CONSOLIDATED LOSS BEFORE INCOME TAX BENEFIT (PROVISION) (1,448,344) (2,669,756)
Income Tax Provision   (27,000)
CONSOLIDATED NET LOSS (1,448,344) (2,696,756)
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST (369,603) (689,065)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTERESTS $ (1,078,741) $ (2,007,691)
NET LOSS PER SHARE – Basic and Diluted (in Dollars per share) $ (0.13) $ (0.23)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING – Basic and Diluted (in Shares) 8,511,730 8,577,558
CASH DIVIDENDS PER SHARE (in Dollars per share) $ 0.01 $ 0.01